Ownership of Business. All business activity participated in by Executive as an employee of the Company, and Executive’s execution of his duties and responsibilities to the Company and their related entities as set forth in Section 2(a) above (the “Business Activity”) shall be conducted solely on behalf of the Company. Executive shall have no right to share in any commission or fee resulting from such Business Activity, other than the compensation and benefits referred to in this Agreement, and any monies due to any member of the Company or their related entities as a result of Business Activity, which may be collected by Executive on behalf of the Company or their related entities, shall be promptly paid over to of the Company or their related entities, as applicable.
Ownership of Business. With respect to the ownership of business:
Ownership of Business. ASL recognizes the independent ownership by PRODUCER of the insurance business subject to the agreement.
Ownership of Business. A. It is expressly agreed between Producer and Agency that all business negotiated, procured, solicited or renewed by Producer during the term of this contract is the sole property of the Agency and that Producer will have no interest in such materials, including but not limited to, the names of customers, renewal or expiration dates of policies, amounts of coverage for particular customers, and phone numbers of customers.
Ownership of Business. Executive acknowledges and agrees that the following, without limitation, are the sole and exclusive property of the Company, and that the Executive has no right, title or interest in or to: (a) any and all Client Accounts, Prospective Client Accounts; (b) personal relationships and goodwill associated with such Client Accounts and Prospective Client Accounts; (c) brokers, insurance carriers and other insurance markets, vendors, and referral sources of Insurance Business that have been cultivated by Executive during Executive’s employment with the Company; and (d) any related files, records, documents, lists, account information and other Confidential Information in Executive’s possession or control during Executive’s employment with the Company. Executive further acknowledges and agrees that the foregoing pertains to all types of Client Accounts and Prospective Client Accounts, including, without limitation, any Client Accounts as to which any Insurance Products or Services, whether placed during Executive’s employment with the Company, may reflect Executive individually, rather than the Company, as the agent-of-record with an insurance carrier.
Ownership of Business. Producer is the owner of the insurance business subject to this Agreement. Producer is acting as a broker for applicants and on the applicant's behalf, not as an agent of ESP. Nothing contained herein shall require, or be construed to require, that ESP accept any insurance business tendered by Producer, and any business tendered by Producer hereunder shall be expressly subject to approval and acceptance by ESP in its sole discretion.
Ownership of Business. The MGA recognizes the Broker’s ownership of the business offered by the Broker to the MGA. However, if the Broker is in default in his account with the MGA, or is in violation of 4(b) or 4(d) above, the Broker shall be deemed to have forfeited his rights under this Agreement and so long as such default shall persist, the Broker agrees to assign to the MGA all policies coded to the Broker’s account and the MGA may, at its discretion, and in any manner it deems appropriate, utilize the monies generated therefrom to satisfy the debt owing by the Broker.
Ownership of Business. The Parties agree that in the event of termination of this Agreement, the Producer will have accounted for and paid all premiums for which the Producer may be responsible in accordance with the Agreement. The Producer’s records, including those pertaining to policy expiration dates, will remain the property of the Producer; however, the Producer will provide loss history, renewal dates, and other information pertaining to coverage to the Company upon written request.
Ownership of Business. With respect to ownership of business, any business acquired by both parties through their joint efforts or given to both Parties will be treated as marital property and jointly owned by both Parties. In the event the marriage is terminated, ownership of the business and any appreciation in the value of the jointly owned business during the course of the marriage will be: (Check one) ☐ Granted to the First Party ☐ Granted to the Second Party ☐ Shared equally by the Parties ☐ Divided between the Parties as follows: __________% to the First Party and __________% to the Second Party or as otherwise designated in a writing signed by both Parties. Ownership of business prior to marriage (Check one) ☐ Not applicable. ☐ With respect to ownership of business, any business that is separately owned prior to the marriage will remain as that Party’s non-marital, separate and individual property and will not be subject to division in the event the marriage is terminated. Any appreciation in the value of the business during the course of the marriage will be: (Check one) ☐ Granted to the Party that owns the business ☐ Shared equally by the Parties ☐ Divided between the Parties as follows: __________% to the First Party and __________% to the Second Party or as otherwise designated in a writing signed by both Parties.
Ownership of Business a. While this Agreement is in effect, Company shall not use its records of insurance placed by Agent to directly contact policyholders for the purpose of offering other kinds of insurance, products or services. This provision shall not apply when Company is required by law to directly contact its policyholders or when Company is acting on the Agent's behalf. In either case, Company shall send Agent an advance copy of such documents and they shall refer the policyholder to Agent for additional information.
